News
CBN CRR costs Nigerian banks N2. 5 trillion in lost earnings
4+ hour, 9+ min ago (374+ words) Nigeria's banking sector may be losing trillions of naira annually due to the Central Bank of Nigeria's (CBN) high Cash Reserve Ratio (CRR), according to a new report by investment banking and research firm Chapel Hill Denham." The report titled'The…...
Top 10 states with the largest internet subscriptions in 2025
9+ hour, 14+ min ago (131+ words) The growth reflects rising smartphone adoption, expanding 4 G network coverage, increased remote work and digital commerce activities, and sustained demand for online services ranging from fintech to entertainment streaming and e-learning. The'Nigeria internet space reveals that a few economically'active'states continue…...
LCCI calls for stronger economic reforms as inflation rises to 15. 69%
1+ day, 2+ hour ago (426+ words) The Lagos Chamber of Commerce and Industry (LCCI) has urged the Federal Government to consolidate ongoing macroeconomic reforms as inflation continues to place pressure on businesses and households across Nigeria. The chamber said manufacturers, Micro, Small and Medium Enterprises (MSMEs), traders,…...
Naira strengthens to N1, 853/1 against British Pound amid UK's political instability
2+ day, 9+ hour ago (414+ words) The Nigerian Naira has recovered from its April lows and shown signs of resiliency in the first half of May, while the British pound hit monthly lows amid a crisis in the UK ruling party. The British pound sterling plummeted…...
Zambia cuts interest rate to 13. 25% amid easing inflation pressures
4+ day, 5+ hour ago (288+ words) Zambia's central bank has reduced its benchmark interest rate to 13. 25% from 13. 5% as inflationary pressures continue to ease despite rising global uncertainties linked to the Middle East conflict. The latest decision marks the third consecutive rate cut by the Bank of…...
NUTN says 80% of Rivers residents spend more than their income on rent
1+ week, 6+ day ago (379+ words) More than 80 per cent of residents in Rivers State now spend over 100 per cent of their income on house rent, highlighting a deepening housing crisis in the state. According to NAN, Mr Ceaser Enwefah, the Executive Secretary of the National…...
BMI: Nigeria to gain N6. 8 trillion from oil as GDP forecast hits 4. 4% in 2026
2+ week, 5+ hour ago (251+ words) Nigeria could record an additional N6. 8 trillion in oil revenue in 2026 as rising crude prices driven by the ongoing US-Iran conflict strengthen the country's fiscal outlook. This is according to BMI, a unit of Fitch Solutions, in its latest Sub-Saharan Africa…...
Cheapest and most expensive states to be a worker in Nigeria
2+ week, 2+ day ago (1480+ words) As Nigerian workers mark Workers" Day on May 1, the latest inflation data shows that the cost-of-living burden remains uneven across states. The ranking is based on the March 2026 Consumer Price Index(CPI)data collated by Nairametrics from the National Bureau…...
Namibia central bank retains 6. 50% rate over inflation concerns
2+ week, 4+ day ago (273+ words) Namibia's central bank has'maintained'its benchmark repo rate at 6. 50%, marking the third consecutive meeting where policymakers have opted to hold rates steady amid concerns that global energy shocks could still filter into domestic inflation in the coming months. The decision reflects…...
Top 10 loan apps in Nigeria with the lowest interest'rates - Q1 2026'
3+ week, 1+ day ago (328+ words) Nigeria's credit sector has, in the space of just a few years, moved from a niche fintech offering to a mainstream financial tool used by millions. A major'driver of'this surge is'mostly'limited access to traditional bank loans, and the speed at…...